Crosstree Portfolio: One Berkeley Street

1 Berkeley Street

  • Date Acquired: December 2011
  • Size: 181,000 ft²
  • Sector: Office / Retail / Hotel
  • Status: Planning
  • Key Tenants: Holiday Inn, MWB Business Exchange, Boots, Caffe Nero

Located opposite the iconic Ritz Hotel, One Berkeley Street was Crosstree’s first acquisition, with the deal signed within months of the business setting up. The building consists of 186,000ft² of retail, office and hotel space. It is an asset that is underpinned by quality real estate and strong fundamentals and one that can benefit from repositioning through active management, in our eyes it’s “Real Estate 101”; the worst house on the best street with a big yard.

The building is currently 100% let to various tenants until 2019, which fits with our ability to look at assets’ over a long-term investment horizon and be able to wait to unlock the asset’s redevelopment potential.